If you are new to online training, it is likely that have wondered how much money you should be charging your new online clients. After working with countless online personal trainers to help them get started in the world of online selling, we have learnt the best strategies that can be used when it comes to pricing.
There are a lot of factors to think about, which we will discuss in this article. By the end of the article you will have a good idea of how much you will charge clients for your online services and be confident that you have made the right choice.
What should I based my price on?
Some of the factors that you should consider are:
- The average price in your industry
- Your sales target
- Who your target market is
- The quality of your product or service
Let’s go through these key factors in more detail.
The average price in your industry
Most online personal trainers earn £50-100 per month from each client they train.
So if you have an 8 week plan you might want to charge £100-200 per client. We recommend staying towards the lower end of the scale while you are just starting out and building your reputation online. Once you have built up your reputation and are known for getting clients to where they want to be, you start to increase your prices and earn more money as clients will be willing to pay more.
Your sales target
An important part of figuring out your pricing strategy is knowing what your goal is.
First decide how much you want to make a year. A typical goal for a new online trainer is £100,000 per year.
This may seem unrealistic and unachievable at first, but let’s break down what you actually need to do to earn £100,000 per year.
Firstly when your goal is to earn £100,000 per year, this means that you need to earn £8,333 per month.
With an average on 30 days per month, this means that your goal is £277 per day. Sounds simple doesn’t it when broken down?
When you are training clients online there is no high gym fees to pay so you don’t have to factor that in.
Let’s say you sell your training for £60 a plan, you just need to sell 5 per day!
Alternatively you could reduce your price to £30 and make your goal 10 sales per day for example. It’s completely up to you, but it’s important to have a clear goal and have it mind whenever you are deciding on new strategies for you business.
Your target market
Another important factor to consider is your target market.
If you don’t know who your target market is, it’s best that you figure it out first.
If you are targeting students you may have to reduce your prices to fit their budget. Whereas if you are targeting older women who typically have more disposable income, you may be able to raise your prices and still make the same amount of sales.
The quality of your service
Think about how much time you spent creating your plan and the knowledge and expertise that went into it.
The more experience and qualifications you have, the more people will be willing to pay for your service.
It also depends whether you are selling custom plans that are tailored to each client, or a plan that can be used by many different clients to help them with their goals.
Tailoring each plan takes more time and should cost more than a pre-made plan.